seems to be in a bit of a pickle, there was a false breakout represented by the ABCD
shape, but there seems to be a reason behind that as the Coppock
curve shows that it provided past support for that decline, so I would ignore the false breakout. But, the currency pair has reached a crucial resistance point, this is also represented by the 100 EMA
, providing this resistance. Furthermore the 50 EMA
is providing the support, so I would short just in till it has stalled in the green region, then sell. But, if a upward breakout occurs then I would sell my short position and go for the buy.